News media publisher Mediahuis aims to create one of Ireland’s largest motoring marketplaces.
Mediahuis has acquired the Irish motoring website Carzone from UK-based Auto Trader Group for €30m.
The publisher, formerly known as Independent News & Media, said that the combination of Carzone with Cartell.ie, which it acquired in 2020, will create Ireland’s largest motoring marketplace. Mediahuis already owns Carsireland.ie.
“The Carzone brand has a long standing and incredible track record in the Irish automotive space”
Mediahuis said that Carzone contributed £4.9m in toral revenue and operating profit of £1.3m to Auto Trader’s Group results.
Room to vroom
It said that the acquisition of Carzone will strengthen its marketplace division in Ireland, creating a unique offering to improve the buying experience for consumers and represents an exciting opportunity for the motoring industry.
“Carzone has been part of the Auto Trader Group for nearly 20 years, and I want to thank the whole Carzone team for their hard work during that time,” said Nathan Coe, CEO of Auto Trader.
“We remain focused on our strategy in the UK, which is to grow our marketplace and establish the products and technology to enable retailers to do more of the car buying journey online, on Auto Trader.”
“We are delighted to welcome the Carzone team into the Mediahuis group,” added Mediahuis marketplaces CEO Xavier van Leeuew. “The Carzone brand has a long standing and incredible track record in the Irish automotive space.
“The culture of excellence of its employees is a significant addition to the expertise within our group.
“Adding to our existing CarsIreland.ie and Cartell.ie brands, Mediahuis will present an unrivalled offering to the entire Irish motor industry, manufacturers, retailers and consumers alike, allowing us to build the business that will lead the industry in years to come.”